Tex Cycle Technology (M) Bhd posted a 29.4% increase in profit to RM6.6 million for the six months ended June 30, 2026 (1H26), from RM5.1 million a year earlier, supported by strong growth in its recovery and recycling business.
First-half revenue surged about 155% to RM44.8 million from RM17.5 million previously.
For the second quarter, revenue jumped 180% year-on-year to RM24.1 million from RM8.6 million, while profit for the period stood at RM3.1 million.
The recovery and recycling division remained the key growth driver, with quarterly revenue soaring 322% to RM22.4 million from RM5.3 million, backed by higher sales demand and contributions from Meridian.
Its renewable energy division contributed RM1.2 million in revenue, supported by the group’s solar Feed-in-Tariff plant and Corporate Renewable Energy Power Purchase Agreement projects.
Group Chief Executive Officer Gary Dass Anthony Francis said the stronger performance reflected momentum from Tex Cycle’s expanded platform and growth in its recycling operations.
“We are encouraged by the strong momentum recorded in 2Q26,” he said, adding that Meridian’s contribution reinforced the group’s confidence in further growth opportunities.
Tex Cycle is expanding into high-value waste processing, organic waste treatment and recovery, and oil and gas waste treatment, while leveraging collaborations such as its agreement with Anggun Kitar Resources to broaden its scheduled waste management capabilities.
The group said it will also pursue synergies between Tex Cycle (P2) and Meridian to expand its service offerings, customer reach and share of the environmental solutions market.
